Norwegian manufacturing 2018 and other industrial sectors

Production in Norwegian manufacturing saw a growth of 1.6 per cent from 2017 to 2018. This is in stark contrast with the grim development that has taken place in the previous years. The growth in 2018 is particularly due to a production rise in ships, boats and oil platforms which saw an upturn of as much as 18 per cent. The activity was especially high within the ship building-part. Furthermore, fabricated metal products and machinery and equipment also contributed positively with an increase of 7.6 and 2.1 per cent respectively.

Two of our neighbouring countries, Denmark and Sweden, both had a solid output growth in 2018 equivalent to 4.4 and 3.6 per cent respectively. The euro area also registered a positive growth rate, but the trend was negative towards the end of the year.

Other key indicators of development in the manufacturing industry also show a positive trend in 2018. The total turnover in manufacturing increased strongly with 7.6 per cent. This growth was driven by an increase in both the home and the export market. Employment only registered a minor increase, but the use of contract workers increased substantially in 2018.

Manufacturing industries invested for NOK 24.3 billion, measured in current value. This resulted in an increase of as much as 14 per cent from 2017. The increase was particularly due to a high investment level within the industry groping refined petroleum, chemicals and pharmaceuticals. The latest investment forecasts suggest a further increase in 2019.

Chapter 5 provides an overview of other industrial sectors in Norway. Also here, the key indicators of development show a positive trend for 2018.